Improved tax cooperation a boost to restoring financial confidence - says Gurría

Moves by major financial centres to improve transparency and exchange of information for tax purposes mark a significant step forward in international tax cooperation and a welcome result of more than 12 years of OECD work reinforced by the imminence of the G-20 summit next month, OECD Secretary-General Angel Gurría said.

In recent days, Austria, Luxembourg and Switzerland have announced that they will adopt in their tax treaties an internationally agreed standard of exchange of information developed by the OECD.

Singapore and Hong Kong have stated they intend to remove domestic hurdles to information exchange, while Andorra and Liechtenstein have said they will be moving in the same direction.

Belgium, which already signaled a move towards the international standard last year with a bilateral tax treaty with the U.S., said it would be adopting the same approach in other tax treaties.

> Read more on the website of the OECD

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